Things aren't going as we planned eh? It broke the 455 satoshis support and it's looking pretty bad. So I've got a new analysis for TRXBTC (I'm planning to do a TRXUSD as well). This time I was a little more conservative drawing the major trendline. In addition, I draw another trendline - a internal one (which is based on the mid highs and mid lows) - and it is...
Well, in my previous analysis of TRX I said it would hit 455 and then go up. It will but in a long term because of the recent FUD towards its whitepaper and so on. I actually copied-paste the same pattern in the 3th Elliot wave (another Elliot inside of it) into my preview for the 5th wave thats incoming. Targets are in the chart! :)
TRX will drop to 455 sats and then rebounce to around 2500 sats... Also, volume is going up these past few days and MACD is turning around, watch it closely. If the support red line breaks, it goes way down, probably to its 200 sats inicial value. This is the time to buy in or sell out.
Updated model as wave 4 cannot overlap wave 1 according to Elliott Wave theory.
Today TRXBTC fell almost to my desired target - 479 low Chartists know that support levels attract price like magnets. During the night TRXBTC might test level 500 again and if it breaks, more dip is coming. If not, reversal is almost certainly confirmed. Support levels are at 1000, 800, 570, 500, and 430.
As you can see (using heikin ashi candles to try to average the volatility ), we should now be at the peak of the climb from the previous low of 480/520. Will next expect steady correction downwards to around 440 level and possibly below in this next cycle. SRIS and CRSI both indicating the position is currently overbought, although MACD not yet convinced...
I noted important points on the graph, but let me explain a bit. TRX broke all good and strong supports and felt into the Free Falling area . The market itself will push it into the dip unless some whale investors buy huge amounts. So it's all up to chance now. However, you can follow news about TRX. Anyway, I'm not optimistic about that. There can be hope if...
#TRON is expected to announce a new publicly listing partner this week. Will a partnership with #BABA, #AMZN, #TSLA #Other side this coin to $1?
Elliott wave 1-5 in red roughly following all the rules, followed by ABC correction ending at previous 4, with a hopeful 1-5 meeting previous trend lines? My first post, so you probably shouldn't use this as advice. Happy to hear where I am wrong (other than not being able to see into the future)
TRX seems to be forming a cup and handle. Despite all the love and hate it has been getting lately, along with some creative marketing, if support at 780 isn't broken, there might be some energy left for another bull run.
MACD shows aggressive uptrend is eminent. 1-2 hours and good to go... Just speculating as a long time TRON hodler... Please share your toughts.
Quick TRX analysis, As you can see the support levels for TRX are currently hovering around .00000730 BTC. The Resistance levels that are needed to move the TRX price up for a significant uptrend are sitting around .00000862 BTC. Furthermore, the downwards trend-line is weakening, while an upwards trend-line is showing stable upward growth. If the price jumps...
Tron has been headed up for the past few days. If we break the local resistance channel, we may reach new highs.
There is nothing to really describe... $TRX has been bullish recently and with high probability it will explode in next few hours. You see these waves... it's pretty much possible.
Perfect fundamentals playing out. This wedge has to give. Where are you putting your money. Sell pressure fizzling.
It may not touching 600 satoshi or lower. Just hold and wait for profit at 5000 satoshi or more.